Which of the following policy provisions restricts certain risks from coverage?

A) Insuring agreement.

B) Conditions.

C) Exclusions.

D) Declarations.

Answer: C

Property

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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The voluntary relinquishment of a legal right is called
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